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Coworking major IndiQube has set a price band of INR 225 to INR 237 per share for its initial public offering (IPO) that will open for subscription on July 23 and close on July 25.
The issue will open for anchor investor bidding on July 22, with the company expected to list on the bourses on July 30.
In an IPO press conference today, IndiQube said 75% of the IPO offer will be reserved for qualified institutional investors (QIBs), 15% for non-institutional investors (NIIs) and the remaining 10% for retail investors.
A retail investor would need INR 14,931 to bid for the minimum lot size of 63 shares of the company’s IPO.
The post issue implied market capitalisation of the company will be in the range of INR 4758 Cr to INR 4977 Cr.
Just a day prior, the company filed its red herring prospectus (RHP) for the IPO, announcing a reduction of INR 150 Cr in the overall issue size to INR 700 Cr.
This includes a reduction in the fresh issue component from INR 750 Cr in the DRHP to INR 650 Cr, while the offer for sale (OFS) was halved to INR 50 Cr from the earlier INR 100 Cr.
( The story will be updated soon.)
The post IndiQube IPO: Price Band Set At INR 225-237 appeared first on Inc42 Media.
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